For many startups, a lucrative exit is the final goal: the culmination of a journey that started with an innovative idea and has gone through rounds of financing, milestones, periods of despair and moments of euphoria. And timing the entrepreneurial exit is a make-or-break decision in most cases - with startuppers facing a dilemma between selling early at a lower price or investing in the development of their invention into a proper innovation and selling later at a higher price.. but only if they survive… In this episode of Story Scanner podcast, Bocconi professor Andrea Fosfuri, talks about his study, published in Management Science, that analyses how startups decide when to sell, which startups can best afford to wait and which have to commit to the early, less lucrative market. Federico Isenburg, Bocconi alumnus and CEO of Nutribees, talks about his experience of first exiting a startup and then buying into one. Whilst Nico Valenti Gatto, Operating Director of B4i, gives his viewpoint on if and how very early stage entrepreneurs should think about an exit and what buyers should consider when they approach a startup.